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AR SB167
Bill
Status
Failed
4/27/2011
Primary Sponsor
Johnny Key
Click for details
AI Summary
- Amends Arkansas Code § 24-10-704 to clarify that cost-of-living increases apply to members of the Local Police and Fire Deferred Retirement Option Plan
- Members participating in the plan receive credit for interest at a rate of 6% per annum
- Interest is credited to each member's individual account balance on an annual basis
- Redetermination of benefits as defined in § 24-10-612 applies to plan members
- A member's monthly retirement benefit shall not change unless the retirement annuity is increased
Legislative Description
To Clarify That The Cost-of-living Increase Applies To Members Of The Local Police And Fire Deferred Retirement Option Plan.
Last Action
Senate Sine Die adjournment
4/27/2011
Committee Referrals
Public Retirement & Social Security Programs1/27/2011
Full Bill Text
No bill text available